Cybersecurity » Survey Highlights Cybersecurity Risk to Board

Survey Highlights Cybersecurity Risk to Board

February 23, 2015

According to a recently released Thomson Reuters governance survey, corporate boards are increasingly exposed to cybersecurity risk. Respondents represented firms from financial services, education, life sciences, energy and other highly-regulated industries, located in the United States and abroad.

Insecure board communication continues, with minimal measures to prevent a breach, and cybersecurity information is the type of information least frequently requested by the board. There has been an increase of eight percent in the number of organizations that always encrypt board communications since the last survey, but 60 percent of organizations still never or only occasionally encrypt board communications, and only a quarter indicated they always do so.

Over half of organizations indicated that at some point board members had left sensitive documents in public places, and an increasing proportion of respondents, and 60 percent of organizations, are not confident board members destroy sensitive printed board documents.

Private devices are used by most board members for board communications, but only a third of those devices are provided by the company. There has been an increase in the frequency with which those devices are stolen or lost. Ten percent of organizations reported they have had a board member to whom this has happened, and five percent said sensitive board materials had been left in a public place. Many organizations continue to use non-secure commercial email accounts to send information to board members.

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